Surgery Partners' revenue up 15% in Q4: 12 numbers to know

Brentwood, Tenn.-based Surgery Partners saw revenue increases of more than 14 percent in both the full year of 2022 and its fourth quarter.

The company's revenue was $707.1 million in the fourth quarter of 2022 and $2.5 billion in the full year 2022, a respective increase of 15.9 percent and 14.1 percent year over year, according to a March 1 news release from Surgery Partners.

Here are more numbers to know:

  1. The group saw a 6.1 percent increase in revenue per case in the fourth quarter of 2022 and a 4.3 percent increase in same-facility cases compared to 2021 levels.
  2. The days adjusted same-facility revenue in the fourth quarter increased 10.7 percent from that of 2021.
  3. In 2022, the group saw a 3.6 percent increase in revenue per case and a 3.9 percent increase in same-facility cases.
  4. Full-year days adjusted same-facility revenues for the year increased by 7.7 percent from 2021.

"As we entered 2023, our liquidity position is greater than $830 million, which enhances our confidence in our ability to navigate this current economic environment and continue to fund accretive mergers and acquisitions," Dave Doherty, CFO of Surgery Partners, said in the release. "With the momentum of these results, we are setting our initial guidance for 2023 adjusted [earnings before interest, taxes, depreciation and amortization] to be greater than $425 million and revenue to be greater than $2.75 billion."

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